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Osirium Technologies (OSI)

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Monday 23 September, 2019

Osirium Technologies

Substantial contract win

RNS Number : 1983N
Osirium Technologies PLC
23 September 2019
 

23 September 2019

 

 

Osirium Technologies plc

 

("Osirium" or "Group")

 

Substantial contract win with major UK provider of software and IT services

 

Osirium Technologies plc (AIM: OSI.L), a leading vendor of cloud-based cybersecurity software, is pleased to announce a significant contract win with a major UK provider of software and IT services to the public sector. The contract represents a substantial expansion by this customer of its investment in Osirium, following an initial order, as announced on 12 February.

 

Under the terms of the contract, Osirium will deliver its full PxM Platform including the Privileged Access Management, Privileged Task Management and Privileged Session Management modules. The 36 month license is for 2,600 devices, in addition to the 250 devices covered by the initial order. Osirium's software will enable this service provider to deliver managed security services to its customers, principally central government organisations and local authoriities in the public sector, delivering rigorous control of access to privileged accounts.

 

David Guyatt, Chief Executive Officer, commented: "Osirium is delighted that, within a 9 month period, this prominent service provider has shown such confidence in the Osirium solution and expanded its base of protected devices more than ten fold.  This is further evidence of the success of our land and expand strategy, as having experienced the benefits of the Osirum PxM solution, they have now taken the decision to roll out our technology to public sector customers served by both of their data centres.

 

"We are very pleased that are they providing security services using not only the classic Privileged Acccess Management functionality but also exploiting Osirium's award-winning Task Automation capabilities, for example on Linux devices, to minimise the risk of security breaches."

 

 

Ends -

For further information:

Osirium Technologies plc

Tel: +44 (0) 118 324 2444

David Guyatt, Chief Executive Officer

Rupert Hutton, Chief Financial Officer

www.osirium.com

 

 

Stifel Nicolaus Europe Limited

(Nominated Adviser and Broker)

Tel: +44 (0) 20 7710 7600

Fred Walsh / Neil Shah

 

 

Alma PR

Tel +44 (0) 20 3405 0205

Josh Royston, Hilary Buchanan

 

Notes to Editors:

 

About Osirium

 

Osirium Technologies plc (AIM: OSI.L) operates in one of the fastest growing parts of the cybersecurity market and is a leading vendor of Privileged Access Management ("PAM") software. Osirium's cloud-based products protect critical IT assets, infrastructure and devices by preventing targeted cyber-attacks from directly accessing Privileged Accounts, removing unnecessary access and powers of Privileged Account users, deterring legitimate Privileged Account users from abusing their roles and containing the effects of a breach if one does happen.

 

Osirium has defined and delivered what the Directors view as the next generation PAM solution.  The team has developed the concept of a Virtual Air Gap to separate users from passwords.  Built on Robotic Automation technology, Osirium's Privileged Task Management module further strengthens Privileged Account security by minimising the cyber-attack surface and delivering an impressive return on investment benefits for customers.

 

Founded in 2008 and with its headquarters in Reading, UK, the Group was admitted to AIM in April 2016.  For further information please visit www.osirium.com

 

 


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